Will Escalating Geopolitical Tensions Push Bitcoin Towards Six Figures?

Bitcoin (BTC) reached a three-week high, touching $93,000 during Monday morning in Asia, following the recent US strike on Venezuela over the weekend. Analysts speculate that Bitcoin may continue to climb, potentially leading to a return to six-figure prices, drawing parallels with the aftermath of the Russian invasion of Ukraine in early 2022, which saw Bitcoin surge by 22% in the following weeks.

“In the current environment, I’ve been anticipating a move for BTC back up to the 50-week moving average around $101,700,” said Michael Nadeau from The DeFi Report. “Now we have a catalyst. The key question is whether that level can hold if it is, in fact, revisited.”

A Market Recovery

Notably, 2022 was marked as a bear market, during which Bitcoin plummeted by 77% from its peak. Similarly, 2026 could face a comparable decline down to $30,000.

Trader Aaron Dishner added his perspective, forecasting a market bounce starting in early January as many traders close off positions by the end of 2025 for tax purposes, expected to buy back aggressively at the beginning of 2026.

“But my target for BTC is still $100k before the next leg down. This has been observed at the start of previous bear markets – in 2022, 2018, and 2015. This time is no different to me.”

Entrepreneur Joe Consorti also expressed confidence in Bitcoin’s return to six figures before any decline begins, noting that Bitcoin surpassed the 50-day moving average for the first time since October, reaching levels not seen since early December.

“Sell pressure may be nearing exhaustion. Need to reclaim and hold the 50-week MA at $101k.”

Bitcoin’s Movement

Bitcoin has hovered around the $92,500 mark and requires a breakthrough above $94,000 to escape the current sideways channel it has been navigating for six weeks.